1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
alexdok [17]
3 years ago
5

Warwick's co., a women's clothing store, purchased $75,000 of merchandise from a sup- plier on account, terms fob destination, 2

/10, n/30. warwick's returned $9,000 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. journalize warwick's entries to record (a) the purchase, (b) the merchandise re- turn, and (c) the payment answer
Business
1 answer:
Nostrana [21]3 years ago
3 0

This question has a three part answer, with each part broken out below:

A. To record the purchase there is a debit to Purchases and a credit to Accounts Payable, each for $75,000.

B. To record the return there is a debit to Accounts Payable and a credit to Purchases Returns and Allowances, each for $9,000.

C. The amount of the payment is $75,000 - 9,000, which is $64,000. They are paying during the discount period, so will only be paying 98% of this amount, which is $62,720.

The entry is a debit to Accounts Payable for $64,000, a debit to Purchases Discounts for $1,280, and a credit to Cash for $62,720.

You might be interested in
Which of the following is a limitation of the planning process at Wirecard? Check all that apply.
jonny [76]
Try D that makes more sense
7 0
3 years ago
Stockholders' equity:________A. Is equal to assets minus liabilities B. Represents the interest of the owners in the assets of a
marshall27 [118]

Answer:

D. All of the above

Explanation:

Stockholder equity is also known as shareholders' equity.  The shareholder's equity is composed of their capital contribution plus the retained earnings.  In the balance sheet, the value of shareholder equity equals assets minus liabilities.

Stockholder equity is the amount that shareholders will receive if the assets of a company are to be liquidated after liabilities have been settled. It is the shareholder interest in the company.

5 0
3 years ago
For a perfectly competitive market to function properly, which of the following must buyers and sellers have access to? adequate
harina [27]
3. For a perfectly competitive market to function properly, buyers and sellers must have access to adequate information. Adequate information is such information that the purchaser considers important for him. So the purchaser, company or investors should have an opportunity to get the information how it is.

4. Natural monopoly can be explained like the situation where one company can supply market's entire with some unique raw materials or technology. So there can't be more than one company which provides this material or technology. According to this, I think the answer is diamonds.

5. As far as I remember, oligopoly is a market that has a few firms dominating the market. That means there is a small competition as there are small number of buyers and sellers.

6. If my memory serves me well, economies of scale happen <span>when a firms' long run average costs decrease with output. So if there is no economies of scale, I'm pretty sure that costs go up.

7. I think that correct definition looks like this: Combination of two or more companies in a single firm is called a merger. Resources of both companies are pooled together, and the owners of each company remain owners. There are to types of merger entities:
-Horizontal integration - if the merged companies are competitors.
- Vertical integration - if the companies are supplier and customer.

8. I am definitely sure that the answer is: </span>Offering products of different tastes and shapes is an example of non-price competition. That means that the competing companies wouldn't challenge by lowering the prices. Every competitor will focus on highlighting benefits of their product, to show that their product is better than another one.

9. The controller of a monopoly sets the price of goods by charging the price at which the profit is maximized. Monopoly is a firm which has no competition, so they doesn't have to worry about losing their customers. Company can set monopoly price which is pretty much higher than products marginal cost. That allows company to have maximum profit.

10. Many critics argue that government efforts to regulate industries have caused inefficiencies. Inefficiency means that the company can't achieve enough productivity. This caused because of high taxes, bureaucracy and other factors.

11. This agreement is called price-fixing. Companies which have come to this conspiracy can't sell goods below fixed price. There are many way to fix price by setting the price high or low. That leaves customer no choice and makes him to buy product at the fixed price.

12. D<span>eregulating industries is not a method that the government uses to intervene and prevent firms from controlling the price and supply of important goods. Deregulation of industry means that government power in a particular industry is reduced. Deregulation removes barriers to competition.

13. I think, I'd go with this: </span><span>Price Fixing, Collusion, And Cartels. Oligopolies can arrange those three together and that lets them to charge prices like monopoly. Government stays sharp with oligopolies using this method.

14. I think it's obviously a start-up costs. Every business need money to set it up. But all of them are different and require different types of costs. So it would be appropriate to create a business plan that helps to consider different start-up costs for your business.

15. I'm 100% sure, that the answer is: C</span><span>ompared to a market with perfect competition, a monopoly often has higher prices and fewer goods. Monopoly usually provides unique raw materials and technologies. As I've mentioned before, monopoly has no competition and it lets company to charge high prices for their goods.

16. I think that the </span><span>lack of technological know-how can't prevent the company being competitive as there's not the most important factor in a particular business.

17. As far as I remember, efficiency is one of the main characteristics of competitive market, which could be achieved with minimum government intervention.

18. According to what I've mentioned above about oligopoly, correct answer should be: E</span>conomists usually call an industry an oligopoly if the four largest firms produce at least 70–80 percent of the output.

19. As I've mentioned it in question 6. total cost curve with economies of scale will decrease on the increasing output. But it refers to firms long run average total cost.

20. I'm definitely sure that the answer is: <span>It has reduced start-up costs for many businesses. Because with the Internet, there's no necessary to set up brick and mortar business. You can just build your business online by making a website. This is a huge economy.</span>
4 0
4 years ago
Read 2 more answers
Which of the following statements about boundary managers is true? a. Boundary managers persuade top management to support the t
Gelneren [198K]

Answer:

A

Explanation:

The way in which boundaries are managed can affect organisational function. For effective functioning, it is important to set up boundaries to create levels of distinctions and integration.

It is The boundary manager determines how a team can work with others that are interested in how the team performs and they persuade too management to support the teams work.

6 0
3 years ago
Some people include a letter of last instruction in their estate planning. What is likely TRUE about this letter?
iVinArrow [24]

Answer:

C

Explanation:

A Letter of Last Instruction (LOLI) serves to give family important information such as where the person wants to be buried, instructions for any pets, or location of important legal documents.  

Side note: this is not a will, and should not be used as a substitution for one. A will is a legal document, a LOLI is not.

Hope this helps! Let me know if you have any further questions about my response.

3 0
3 years ago
Other questions:
  • Chhom Corporation makes a product whose direct labor standards are 0.9 hours per unit and $30 per hour. In November the company
    10·1 answer
  • How do the Iowa Caucuses work?
    12·1 answer
  • Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.01 hours. During the
    6·1 answer
  • In a period of steadily rising prices (meaning the cost to purchase inventory is increasing over time), what would be the implic
    12·1 answer
  • A firm will shut down in the short run if the total revenue that it would get from producing and selling its output is less than
    8·1 answer
  • An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 40 during a week. Payroll dat
    12·1 answer
  • Suppose that call options on ExxonMobil stock with time to expiration 3 months and strike price $90 are selling at an implied vo
    14·1 answer
  • During the taking of its physical inventory on December 31,2008, Genesis company incorrectly counted its inventory as $126,000 i
    9·1 answer
  • West Street Automotive is considering adding state safety inspections to its service offerings. The equipment necessary to perfo
    9·1 answer
  • Consumer mobility refers to the idea that consumers like to find the same products everywhere. An example of a company that sell
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!